Junket operators in Macau branching out in effort to improve reputation and diversify business but financial crime concerns remain

Tweet Junkets branching out According to this article by Reuters, traditional junket operators (also known as VIP gaming promoters) in Macau are branching out to diversify their businesses and improve their reputation. The largest junket operator, Suncity Group, is planning to open its own casino and has expanded into mining and iron ore operations in […]

Canadian pleads guilty to money laundering in US over online gambling

Tweet Nelson Burtnick, the Canadian executive who was indicted for money laundering in April 2011 in connection with his role operating the Full Tilt Poker gambling website, pleaded guilty to money laundering today. He was indicted, along with several others, for money laundering, bank fraud, and illegal gambling for disguising payments from U.S. gamblers as […]

Uncertainty over recovery of seized funds from PokerStars, Absolute Poker and Full Tilt Poker

Tweet The news on Friday that the U.S. had indicted 11 individuals associated with the operation of the Internet gambling sites PokerStars, Full Tilt Poker and Absolute Poker for violations of U.S. gambling and anti-money laundering laws and bank fraud, has raised questions about the future of the funds held by those entities on behalf […]

U.S. charges 3 Canadians affiliated with PokerStars, Full Tilt Poker and Absolute Poker with money laundering in $3 billion indictment

Tweet The U.S. Attorney and the FBI today unsealed an indictment today charging 3 Canadians with money laundering, bank fraud and illegal gambling in connection with the operation of Internet gambling websites that provide online gambling services to U.S. residents. Eight other individuals, mostly residents of the U.S., were also indicted. The defendants include the […]

Canada still a money laundering concern says 2011 International Narcotics Control Strategy Report

Tweet The 2011 U.S. Department of State International Narcotics Control Strategy Report released on March 1, has once again determined that Canada is a major money laundering country, and in addition, has determined that Canada is a major precursor chemical source country. According to the Report, money laundering in Canada generally occurs though the following […]

4 U.K. men facing nine years in jail if they don’t pay £800,000 laundered in casinos

Tweet A U.K. professional gambler, Harvinder “Micky Singh” Batth, and three co-defendants must come up with £800,000 in restitution in the next six months or spend more time in jail. Batth was a member of a U.K. group that laundered millions of pounds at casinos on behalf of crime bosses. He was a well-known professional […]

Macau junket operator involved in money laundering probe

Tweet According to a report in the South China Morning Post, police arrested Lin Chiu, an investor in the Neptune Group Limited for allegedly money laundering. The Neptune Group, a publicly traded company, is said to own 70% of the Hong Kong-based gambling cruise ship called “Neptune” and operates VIP junkets to casinos in Macau, […]

Escort service CEO sentenced for money laundering

Tweet Ran Prostitution Service Disguised as Escort Service A Washington woman was sentenced today to two years in prison after pleading guilty to laundering the proceeds of crime derived from running an organized prostitution service disguised as an escort service at a tribal casino. Cheryl Larson pleaded guilty to prostitution, money laundering and possession of […]